Walmart is partnering with marketplace StockX to offer an expanded assortment of sneakers.
The Walmart Marketplace will be StockX’s inaugural strategic marketplace sales channel, a Walmart spokesperson confirmed to Retail Dive in an email Wednesday. Walmart said StockX’s “initial assortment is scheduled to launch on Walmart.com next week with hundreds of coveted pre-verified sneakers, including Nike Jordan 1s, Jordan 4s, Jordan 1 Travis Scotts, New Balance and Asics.”
The StockX marketplace allows buyers and sellers to make anonymous offers on shoes, apparel, electronics and collectibles. Bids are made in real time at prices that reflect current demand, the company says on its website. Shoes sold on StockX are verified new and in their original box. The partnership is set to launch on Tuesday.
“Adding a range of coveted current culture items from StockX helps Walmart Marketplace continue its rapid acceleration by offering more items that customers want and love,” StockX said in a Thursday statement to Retail Dive. “And, Walmart’s vast customer base – many of which are new to StockX – will get to experience the platform in a way that is convenient for them. StockX sellers can also reach this built-in audience of loyal Walmart customers without sacrificing their current volumes on StockX, as products will be listed across both platforms at scale, delivering massive demand to StockX sellers.”
Walmart’s Marketplace has seen 30% growth during the last four consecutive quarters, Manish Joneja, Walmart’s senior vice president of U.S. Marketplace and Walmart fulfillment services, said during a Wednesday global retailing conference hosted by Goldman Sachs.
“The play is to get that wider assortment from all the partners, with more examples like StockX, where you see more and more brands coming on board, serving our customers, which brings a wide and deep assortment,” Joneja said, according to a conference transcript. Bringing a variety of different brands on board enables buyers to discover items that resonate with them. For sellers, the partnership offers a fair, low cost and profitable platform, Joneja said.
The StockX partnership builds on news last week that Walmart Marketplace is expanding into collectibles, along with other categories including premium beauty and secondhand items.
The retailer’s preowned marketplace, Resold at Walmart, will offer 5 million items from 1,700 sellers, while the expanded beauty offering will feature over 20 new brands in its initial assortment. The retailer’s collectibles shop will offer 0% commission through Oct. 31 for dolls, action figures, trading cards, sports memorabilia, comic books, records and musical instruments, according to an announcement.
